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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2018
May 31, 2017
May 31, 2016
Cash provided by operations:      
Net income $ 1,933 $ 4,240 $ 3,760
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation 747 706 649
Deferred income taxes 647 (273) (80)
Stock-based compensation 218 215 236
Amortization and other 27 10 13
Net foreign currency adjustments (99) (117) 98
Changes in certain working capital components and other assets and liabilities:      
Decrease (increase) in accounts receivable 187 (426) 60
(Increase) in inventories (255) (231) (590)
Decrease (increase) in prepaid expenses and other current and non-current assets 35 (120) (161)
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities 1,515 (158) (586)
Cash provided by operations 4,955 3,846 3,399
Cash provided (used) by investing activities:      
Purchases of short-term investments (4,783) (5,928) (5,367)
Maturities of short-term investments 3,613 3,623 2,924
Sales of short-term investments 2,496 2,423 2,386
Investments in reverse repurchase agreements 0 0 150
Additions to property, plant and equipment (1,028) (1,105) (1,143)
Disposals of property, plant and equipment 3 13 10
Other investing activities (25) (34) 6
Cash provided (used) by investing activities 276 (1,008) (1,034)
Cash used by financing activities:      
Net proceeds from long-term debt issuance 0 1,482 981
Long-term debt payments, including current portion (6) (44) (106)
Increase (decrease) in notes payable 13 327 (67)
Payments on capital lease and other financing obligations (23) (17) (7)
Proceeds from exercise of stock options and other stock issuances 733 489 507
Repurchase of common stock (4,254) (3,223) (3,238)
Dividends — common and preferred (1,243) (1,133) (1,022)
Tax payments for net share settlement of equity awards (55) (29) (22)
Cash used by financing activities (4,835) (2,148) (2,974)
Effect of exchange rate changes on cash and equivalents 45 (20) (105)
Net increase (decrease) in cash and equivalents 441 670 (714)
Cash and equivalents, beginning of year 3,808 3,138 3,852
CASH AND EQUIVALENTS, END OF YEAR 4,249 3,808 3,138
Cash paid during the year for:      
Interest, net of capitalized interest 125 98 70
Income taxes 529 703 748
Non-cash additions to property, plant and equipment 294 266 252
Dividends declared and not paid $ 320 $ 300 $ 271